Do you have adblock enabled?
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(MSNBC) NewsFlash Enron II, no one saw this coming.   ( divider line
    More: NewsFlash  
•       •       •

15464 clicks; posted to Main » on 11 Feb 2002 at 7:32 PM (15 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

Want to get NewsFlash notifications in email?

38 Comments     (+0 »)
2002-02-11 07:35:26 PM  
Enron.. more like Moron.
2002-02-11 07:36:39 PM  
Off with his nuts!
2002-02-11 07:41:08 PM  
I'm just waiting until the press, I mean, the news media: promoters of info-tainment, start throwing around the new buzz word "Enron-gate."
2002-02-11 07:42:20 PM  
I thought Global Crossing was Enron II.
2002-02-11 07:44:03 PM  
Gotta be a conspiracy. I say the Bushiates and Terrorists have banded and are forcing fat cats to move their money to Switzerland.

The rest of us? Left with dinosour vomit.
2002-02-11 07:44:17 PM  
I have shares in Nortel!! FARK me!

Well its time to buy some PUTS on NT.
2002-02-11 07:45:10 PM  
This isn't the last of the financial scandals of this sort. Surprised 3 others haven't surfaced yet.
2002-02-11 07:45:51 PM  
Here is a link to an excellent article by Michael Moore on why this whole Enron scandal should lead to Bush's impeachment

Bush and Lay are soooooo in bed with each other. (and their names sound funny together. Bush Lay in bed. ha ha.
2002-02-11 07:47:40 PM  

There is a bit of difference. This guy: $85K. The Enron guys were mucking about with $1.1BN.

IMHO, Enron's wide pipeline of dollars falling into vastly larger seas of debt is the sole force that removed power from consumers in California. This guy was hedging his kid's college fund or something. Keep it in perspective.

A much bigger deal is Global Crossing having their employee's 401(k) funds frozen switching employers while they declared Chapter 11. Just like Enron! This means that you can offer attractive incentives on your own stock to employees' retirement plans, even match so your market cap looks good. Then you make a whole bunch of machinated, BS backroom deals that make you and maybe 50 friends a lot richer on paper. Run it for all it's worth, run to the bank and pull out the cash, change 401(k) companies, and issue a press release and screw your creditors on the backs of your employees.
Nortel guy is small fry -- a symptom of paranoia;, the Enron fishies just got too greedy, that's the only reason we're hearing about them. Their scam might flush out some more, but more likely they'll get away if they grease the right pockets. Enron will end up being used to make it look like republicans can't be bought and that campaign finance reform is an issue that congress cares about.
La la la

2002-02-11 07:54:35 PM  
oh...this guys gonna burn in hell! probably the fifth or sixth level even...

BAD, Mr. Man. BAD BAD!!!
2002-02-11 07:58:19 PM  
Couldn't get through to the MSNBC article, but I am assuming this is story about the former Nortel CFO trading based on insider knowledge. If so, I have to agree with FPS that Global Crossing still holds Enron II status. Nortel on the other hand, non-story. Nortel CFO gets sued, possibly faces a criminal trial, but Nortel share price will be unaffected. You heard it here on Fark first. Remain calm and no one will get hurt. Uh, except for that CFO guy. He's screwed.
2002-02-11 08:00:32 PM  
2002-02-11 08:21:12 PM  
anyone having trouble loading MSNBC? (yes, i did take out of the URL)
2002-02-11 08:32:37 PM  
You know, it serves all these greedy investors right.
Stocks don't go up and down because of real growth or innovation, who might as well go and try your hand at blackjack or roulette, the odds are probably in your favour at a casino.
2002-02-11 08:32:39 PM  
Enron II? Hardly. What a lame posting.
2002-02-11 08:33:27 PM  
I worked for Nortel Networks from 1998 to feburary 2001. Their situations are sorta simlar, but Nortel wasn't doing anything illegal they were just being stupid like any other telecom company during that time. John Roth who was CEO at the time raked in over 90 million selling stock during the year 2000 while all the time claiming that Nortel wasn't gonna be hit by the slumping telecom sector like Lucent was.... meanwhile when the shiat hit the fan during spring and summer 2001 all the employes were outta luck when Nortel's stock tanked to $8 a share.... it wasn't as bad as Enron tho.
2002-02-11 08:41:54 PM  
Nortel lost something like $2 billion in Q4. That's billion with a B folks. Uh, Casper, if you didn't already know you were farked, I've got some nice stock in to sell you.
2002-02-11 08:48:13 PM  
Enron: collusion in several upper levels of management result in the largest bankruptcy filing in U.S. history.

Nortel: a CFO uses the privilege of his position to make money in the market.

Most. Overblown. Headline. Ever.
2002-02-11 08:49:27 PM  
This is all my fault. I went to a Nortel job fair a little over a year ago when I was sick. No one even wanted to talk to me, there was nothing on their buffet I could eat because of my stomach being upset, and to top it all off the heel of my shoe broke off on their damn stairs when I was trying to leave and I fell all the way down. I shoulda sued, but instead I cursed the company. Whoops.
2002-02-11 08:54:14 PM  
It's good that the Enron situation has drawn attention to what appears to be a new, and now in the wake of 9/11, an increasingly common problem. Not all companies stay in business forever. Yours might be next.

2002-02-11 09:19:53 PM  
Wow, I am shocked. I mean, with Nortel's billions and billions of dollars that they lost, I thought they were one of the most successful companies in the world.
2002-02-11 09:33:27 PM  
Wait a minute...Nortel spelled backwards is Letron, and that sounds similar to Enron...SUSPICIOUSLY similar.....
2002-02-11 10:18:32 PM  
Wait a minute. Aren't corporations inherently evil? Isn't the failure of one cause to celebrate? Shouldn't we be happy when the workers who assisted it in its foul deeds are thrown into the street? Should we not rejoice when its shareholders whose capital made its unwholesome existence possible are ruined?
2002-02-11 11:17:13 PM  
Jjorsett: Ummmmm . . . . . . . . . . mmmmmmmm . . . . . . .

2002-02-11 11:48:08 PM  
Wait a second, did Bort13 say something that actually makes sense? I'm sorry, I must have the wrong number, I thought this was
2002-02-12 12:06:01 AM  
More like Enron Jr. Or Enron wanna-be.
2002-02-12 12:43:00 AM  
Wait a minute. Aren't corporations inherently evil? Isn't the failure of one cause to celebrate? Shouldn't we be happy when the workers who assisted it in its foul deeds are thrown into the street? Should we not rejoice when its shareholders whose capital made its unwholesome existence possible are ruined?

I know this one! Answer is YES! What do I win?
2002-02-12 01:12:38 AM  
You win: Communism!
2002-02-12 02:47:11 AM  
Haha. Sucker.
2002-02-12 03:58:25 AM  
Why is this a farkin News Flash?

This was on all the "lefty wingnut sites" (that I get accused of reading all the time) months ago!

JP Morgan Chase is in serious trouble with derivatives (just like Enron)as we speak. Verified and confirmed.

Japan is officially broke with big problems coming in April - the Japanese are going crazy buying up every single last available ounce of Gold they can find right now.
Verified and confirmed.

Microsoft is going to laying off big time in the near future. Reliable Rumor.

UBS Warburg in Germany has both liquidity problems and gold derivative problems. Verified and confirmed.

The U.S. Dollar is going to take a big hit against the Euro after next month - everyone is coverting their old European notes for US dollars right now because after the 28th, their old money will be worthless. Next month they'll be selling their US dollars for Euros. Rumor, extremely probable.

Gold will continue to go up after big increase last week.
Rumor - extremely probable. I'm personally banking on this one.

I'm not saying any of this will happen. I am saying it is a reasonable interpretation of the information being presented, for anyone who cares to read those "lefty wingnut sites."

Some of which I have confidence in as I've been watching them quite a while.

Buy Gold.
2002-02-12 04:08:47 AM  

lets see... you need money to live, to get money you need a job, and if you have a job you probably work for a corporation.

how exactly are corporations inherently evil? because every now and again you see something like the enron disaster?
2002-02-12 08:36:49 AM  
No, corporations are not inherently evil.

Corporate bastards who smear honest industry and are bailed out(like in the S&L fiasco) by scum like the Bush Family are evil.
2002-02-12 08:42:52 AM  
I'm getting a little sick of posters making up headlines that have nothing to do with the actual stories. Wow, an $80K personal investment scandal. I think I'll submit it to Fark as Enron Part II, that way it'll get posted!
2002-02-12 11:19:50 AM  
OK, it's been brought up before, but COME ON! The guy has a total of $150K Canadian investment scandal...after Canadian taxes, that's like maybe $100K, which is $60K US. This is ENRON 2? I got in an argument with my girlfriend last night. She's jewish, so by that logic the Holocaust 2 happened last night (don't worry, we made up).
2002-02-12 11:25:19 AM  
"Corporate bastards who smear honest industry and are bailed out(like in the S&L fiasco) by scum like the Bush Family are evil."

Bailed out?!? THEY WENT BANKRUPT!!!
Catch on here people.
2002-02-12 01:01:27 PM  
EnoronII: Attack of the Republicans
2002-02-12 10:25:18 PM  
Ironbar and Sburbncwby -

As much as liberals are trying their darnest to get Enron to stick to the Republicans, if you really think that Clinton and his goons are blameless in the collapse of Enron, you're idiots.

Check out...​.​htm

Bush probably isn't blameless. But if you think this is strictly a Bush thing, you need to wake up and smell the Java.
2002-02-13 08:00:13 PM  
It is because of Republicans and Capitalism!
Displayed 38 of 38 comments

This thread is archived, and closed to new comments.

Continue Farking

On Twitter

Top Commented
Javascript is required to view headlines in widget.
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.